Stryker (NYSE:SYK) Price Target Raised to $445.00

Stryker (NYSE:SYK) had its price objective upped by Wells Fargo & Company from $435.00 to $445.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the medical technology company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Needham & Company LLC boosted their target price on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI boosted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Roth Mkm boosted their target price on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Citigroup reissued a “buy” rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $429.35.

Stryker Trading Down 3.6%

Shares of SYK stock opened at $378.62 on Friday. The company’s fifty day simple moving average is $387.46 and its two-hundred day simple moving average is $380.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a market capitalization of $144.52 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the firm posted $2.81 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Stryker will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, June 30th. Stryker’s dividend payout ratio is currently 44.50%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director owned 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at $26,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker during the second quarter valued at about $26,000. Sachetta LLC boosted its position in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the period. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter valued at about $32,000. Finally, City Holding Co. boosted its position in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after buying an additional 74 shares during the period. Institutional investors own 77.09% of the company’s stock.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.